On Saturday afternoon, President Yoweri Kaguta Museveni arrived in Tanzania, for the Tanzania-Uganda oil and gas (TUOG) symposium, a project that discussed opportunities presented by the East African Crude Oil Pipeline (EACOP) project.
He was welcomed by his Tanzanian counterpart Samia Suluhu Hassan at the Julius Nyerere International Airport.
The two-day meeting themed ‘Enhancing private sector participation in the oil and gas sector’ kicked off at the Julius Nyerere international convention and was grace by a number of delegates including the Minister of Energy, Hon Ruth Nankabirwa.
Both the presidents of the two nations addressed the congregation and they emphasized on the business community embracing the spirit of cooperation between the two countries and to also explore opportunities to enhance bilateral trade and investment.
President Museveni also said a federated East Africa would create a united market for the businesses of 200million people, who will be 401 million by 2050, (UN projections), adding that a political federation would make it easier to handle issues of insecurity.
He went ahead and handed over a copy of the Argus, a 1963 edition to his counterpart Samia Suluhu and the delegates present.
This copy featured the EAC Federation talks by the Heads of State.
The two presidents agreed on the key strategies that will take trade between Tanzania and Uganda to another level, leading to the development. These included;
The East African Crude Oil Pipeline (EACOP) project that will not only see oil flow downstream from the Albertine region but will also see the gas flow from the coastal region in Tanzania upstream, to the continent’s inland.
President Museveni said he was happy that President Suluhu was willing to partner with Uganda to exploit the Pathogenic economy through joint production of pharmaceuticals.
The two Presidents also agreed to work closely on developing a vaccine as a measure to further combat the spread of the COVID-19 virus and other pandemic diseases.
The president also expressed his happiness concerning the progress concerning the pipeline project.
“I am happy to tell Tanzanians, Ugandans and the world that the activities on the pipeline are complete,” President Museveni said
He as well emphasized the issue of markets to support business growth. “Market is a stimulus for business. The more you sell the more you produce. Segmenting African markets is a big mistake. We should use the tool of markets to support businesses,” he said.
It is estimated that around 20000 jobs will be created during the pipeline project.
“It will create jobs before construction and after. Other service providers will also be able to supply those who work in the oil sector e.g. hotels, transport and food supplier’s etc. “president said.
Today Monday morning, the president left Dar es Salaam for Chato where he is to is expected to launch the Museveni School he donate to people in the area.
He also will lay a wreath at the final resting place of former President late John Pombe Magufuli before paying a courtesy visit to his widow, Janet Magufuli
